Semiconductor Exports More Than Triple... Oct. 1-20 Exports Hit an "All-Time High" of $61.6 Billion

Semiconductor Exports Surge 222.5% to $27.5 Billion... Account for 44.7% of Total Exports
Total Exports Rise 105.4%; Average Daily Exports Hit Record $4.74 Billion
$14.5 Billion Trade Surplus... Exports to China and the U.S. Rise More Than 150%

Yonhap News Agency

Exports from October 1 to 20 totaled $61.612 billion, setting a record for the same period in October. Semiconductor exports more than tripled from a year earlier to $27.5 billion, accounting for about 45% of total exports. Average daily exports, adjusted for the number of working days, also hit a record $4.74 billion.

According to the "Trade Statistics for October 1-20" released by the Korea Customs Service on October 21, exports totaled $61.612 billion during the period, up 105.4% from the same period last year. Imports rose 42.8% to $47.117 billion, resulting in a trade surplus of $14.496 billion. The cumulative trade surplus for the year through October 20 stood at $266.926 billion.

The increase in the number of working days also contributed to the export growth rate exceeding 100% this month. There were 13 working days from October 1 to 20 this year, 2.5 more than the 10.5 days during the same period last year. Even excluding the difference in working days, average daily exports rose 65.9% year over year to $4.74 billion, the highest level on record for the first 20 days of a month. This also surpassed the previous second-highest figure of $4.6 billion, recorded last month.

Semiconductors led the growth in exports. Semiconductor exports from October 1 to 20 surged 222.5% from a year earlier to $27.516 billion, a record for the same period in October. Semiconductors accounted for 44.7% of total exports, up 16.2 percentage points from a year earlier.

Exports of computer peripherals also jumped 424.0% to $2.432 billion. Petroleum products rose 68.3% to $3.948 billion, while passenger cars increased 40.9% to $3.358 billion. Steel products were up 42.6% to $2.588 billion. Ship exports increased 6.9% to $1.621 billion.

Exports to major markets also rose across the board. Exports to China, South Korea's largest export market, climbed 154.4% year over year to $16.686 billion. Shipments to the United States jumped 154.9% to $10.778 billion. Exports to Vietnam increased 74.6% to $5.011 billion, while those to the European Union (EU) rose 78.2% to $4.463 billion. China, the United States and Vietnam together accounted for 52.7% of total exports.

Imports also increased sharply. Semiconductor imports rose 78.4% year over year to $7.573 billion, while crude oil imports increased 42.9% to $7.448 billion. Gas imports surged 112.4% to $2.82 billion. The combined value of imports of crude oil, gas and coal was up 53.5% from the same period last year.

By country, imports from China rose 71.1% to $11.29 billion, while those from the United States increased 12.9% to $4.672 billion. Imports from the EU, Taiwan and Japan rose 34.6%, 84.2% and 45.6%, respectively.

The Korea Customs Service said, "As these figures are preliminary and cover only the period from the first through the 20th of this month, they may be affected by changes in the number of working days and other factors."

This content was produced with the assistance of AI translation services.